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OCCIDENTAL PETROLEUM CORPORATION

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OXY1 trade ideas

Occidental Petroleum updateLast time price was this low was in February 2009. With global growth worries as banks across the globe started to cut rates this summer, oil prices took another blow and stock of Occidental followed. A major level is at $40 where a great risk-reward buying opportunity, if the level holds. On the technical side, stock is oversold on indicators and waiting for the reversal pattern on smaller time frames. Major banks downgraded Occidental stocks 'from Buy to Neutral' in the first quarter of 2019 with price target ranging $55-$70. As the price hits support and global growth picks up would be a great opportunity to ride the wave here. Good Luck!
NYSE:OXY
by Antonio_trader
Questionable TechnicalsThis chart shows a clear 3-year BULL market (08-11) followed by a long 8-year BEAR market. We see this trading at the bottom of the long bear channel, and in-fact, it looks like it broke through that channel and is on the way to the supports marked at 44 and then 40. I hold this long, am down since my initial purchase, and am reinvesting my dividends. I see another 15% downside from here, with a potential 80%+ upside long-term. This is a CORE position in my retirement portfolio. The company recently sold corporate bonds to finance their purchase of Anadarko, which appears to have been in high demand (30yr bond getting close to 5%). This leads me to believe that the company will weather the storm, will come back stronger than ever, and eventually will make all investors who purchase this very happy.... I'm talking 10-years here, so anyone looking to get rich quick is shit out of luck.... Cash flow is king here, and as long as they can recognize cost synergies, shareholders will be rewarded. If you buy this now, you would have bought shares cheaper than the CEO recently purchased them. However, know the risks; no investment is a sure thing Happy investing.
NYSE:OXYLong
by IAmSpoli
$OXY Goodnight Daily chart doesn't show & tell as much as 4Hourly does. Neg MFI divergence to compliment a break of 20 EMA + bearish 20 crossover of 55MA (low). Candle pattern towards top is like de ja vu all the way back to late Jan. OPEC meeting coming up so I'm sure that'll add to a temporary panic sell, but OPEC potentially planning to increase production so depending on the outcome, I'd be bullish after seeing a dip. $77.50 first target price w/ $72.50 worst case before seeing a re-trace but, it's not easy being bullish on crude with a bullish US dollar
NYSE:OXYShort
by DerekD_